Volkswagen CEO says cost cuts must be accelerated in response to tariffs
ReutersJul 25, 2025 7:26 AM
BERLIN, July 25 (Reuters) - Volkswagen VOWG.DE faced "major challenges" at the start of the year due to the unforeseen impact of U.S. import tariffs, CEO Oliver Blume said on Friday, adding that the company must intensify its cost-cutting efforts in response.
"We need to shift our cost efforts into high gear and accelerate implementation. After all, we cannot assume that the tariff situation is only temporary," Blume told investors after the company reported a drop in quarterly earnings and cut its full-year guidance.
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
Netflix After the Warner Deal: What Investors Should Know
TradingKey - For quite some time now, Netflix (NFLX) has been regarded as the premier subscription-based streaming service in the world, with a well-established history of growth through creative use of pricing power, developing hit programming, and relying very little on outside sources for licensiTradingKey
7 hours ago
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion TreTradingKey
Mon, Feb 9
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.TradingKey
Fri, Feb 6
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.TradingKey
Fri, Feb 6
